Shares of Palantir Technologies Inc. (NYSE:PLTR - Get Free Report) traded up 3.9% on Tuesday . The company traded as high as $21.98 and last traded at $21.75. 24,089,942 shares changed hands during mid-day trading, a decline of 62% from the average session volume of 62,760,199 shares. The stock had previously closed at $20.94.
Wall Street Analysts Forecast Growth
PLTR has been the topic of a number of research reports. Mizuho increased their target price on shares of Palantir Technologies from $18.00 to $21.00 and gave the stock a "neutral" rating in a research note on Thursday, March 7th. HSBC increased their target price on Palantir Technologies from $22.00 to $23.00 and gave the stock a "hold" rating in a report on Tuesday, May 7th. Citigroup lifted their price objective on shares of Palantir Technologies from $23.00 to $25.00 and gave the company a "neutral" rating in a report on Tuesday, May 7th. DA Davidson raised their price target on shares of Palantir Technologies from $19.00 to $24.00 and gave the company a "neutral" rating in a research report on Tuesday, May 7th. Finally, Deutsche Bank Aktiengesellschaft boosted their price objective on Palantir Technologies from $18.00 to $20.00 and gave the stock a "sell" rating in a report on Tuesday, May 7th. Five equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $20.65.
Check Out Our Latest Stock Analysis on PLTR
Palantir Technologies Stock Up 2.4 %
The company has a 50-day moving average price of $23.05 and a two-hundred day moving average price of $20.49. The company has a market capitalization of $47.43 billion, a PE ratio of 178.18, a PEG ratio of 4.71 and a beta of 2.76.
Insider Activity
In other news, insider Shyam Sankar sold 50,000 shares of the company's stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $23.57, for a total value of $1,178,500.00. Following the transaction, the insider now owns 752,786 shares of the company's stock, valued at $17,743,166.02. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, Director Peter Thiel sold 5,000,000 shares of the company's stock in a transaction on Friday, May 10th. The shares were sold at an average price of $20.78, for a total value of $103,900,000.00. Following the completion of the transaction, the director now directly owns 15,733,625 shares in the company, valued at $326,944,727.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Shyam Sankar sold 50,000 shares of the firm's stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $23.57, for a total value of $1,178,500.00. Following the sale, the insider now owns 752,786 shares in the company, valued at approximately $17,743,166.02. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 18,457,938 shares of company stock worth $415,665,719. 13.96% of the stock is owned by company insiders.
Hedge Funds Weigh In On Palantir Technologies
Institutional investors have recently modified their holdings of the company. Pursue Wealth Partners LLC purchased a new position in shares of Palantir Technologies during the fourth quarter valued at approximately $1,741,000. Qsemble Capital Management LP purchased a new position in Palantir Technologies during the third quarter valued at $1,178,000. Trexquant Investment LP bought a new stake in shares of Palantir Technologies during the 3rd quarter valued at $4,446,000. Raymond James Financial Services Advisors Inc. grew its position in shares of Palantir Technologies by 10.8% in the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 1,196,790 shares of the company's stock worth $20,549,000 after buying an additional 116,220 shares during the period. Finally, Victory Capital Management Inc. increased its stake in shares of Palantir Technologies by 3.9% in the 3rd quarter. Victory Capital Management Inc. now owns 684,953 shares of the company's stock worth $10,959,000 after acquiring an additional 25,787 shares in the last quarter. 45.65% of the stock is currently owned by institutional investors.
About Palantir Technologies
(
Get Free Report)
Palantir Technologies Inc builds and deploys software platforms for the intelligence community to assist in counterterrorism investigations and operations in the United States, the United Kingdom, and internationally. The company provides Palantir Gotham, a software platform which enables users to identify patterns hidden deep within datasets, ranging from signals intelligence sources to reports from confidential informants, as well as facilitates the handoff between analysts and operational users, helping operators plan and execute real-world responses to threats that have been identified within the platform.
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